MARKET OUTLOOK, REAL ESTATE TECHNOLOGY

BXP Earns Top ESG Rating in 2022 GRESB Assessment

BXP | October 18, 2022 | Read time : 05:00 min

BXP Earns Top ESG Rating in 2022 GRESB Assessment
BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, today announced that it has earned a top ESG rating in the 2022 GRESB® assessment. BXP earned an eleventh consecutive “Green Star” recognition and the highest GRESB 5-star Rating, as well as an “A” disclosure score. BXP also achieved the highest scores in several categories, including Data Monitoring & Review, Targets, Policies, Reporting, and Leadership.

“Real estate companies, as stewards of the built environment, play an essential role in addressing the climate crisis, I am proud of this recognition and of BXP’s leadership in strategic climate action. BXP’s focus on sustainability is an important component of our premier workplace strategy and is valued by our clients, partners, employees, and communities.”

- Owen Thomas, CEO of BXP

BXP actively works to promote its growth and operations in a sustainable and responsible manner and is a recognized leader in green building. BXP has certified 29.4 million square feet of its current in-service portfolio at the highest LEED certification levels of Gold and Platinum. BXP has publicly announced sustainability goals and has implemented energy conservation projects and other measures in actively managed properties that have reduced greenhouse gas emissions intensity by 80% and site energy use intensity by 41% since 2008. BXP has aligned its emissions reduction targets with climate science and became the first North American office REIT to establish an emissions reduction target ambition in line with a 1.5°C trajectory, the most ambitious designation available at the time of submission under the Science Based Targets initiative. BXP remains on track to achieve carbon-neutral operations by 2025.

BXP’s commitment to ESG performance management and transparency is key to our ESG program, Our focus on measurable impacts guides our decision making and investments, creating a more resilient, purposeful company, said Ben Myers, Vice President of Sustainability, BXP.

The GRESB Real Estate Assessment is the investor-driven global ESG benchmark and reporting framework for real estate. The Assessment is shaped by what investors and the industry consider to be material issues in the sustainability performance of real estate investments. The methodology is consistent across different regions, investment vehicles, and property types, and aligns with international reporting frameworks. The data is self-reported by Assessment participants and subjected to a multi-layer validation process after which it is scored and benchmarked. The result is high-quality data that investors and participants can use in their investment, engagement, and decision-making processes.

About BXP ESG
BXP’s commitment to ESG leadership has been recognized by numerous industry groups and rankings, including BXP’s inclusion as #4 on the 2021 Forbes Green Growth 50 list and #3 on Barron’s 10 Most Sustainable U.S. REITs list. BXP was named to Newsweek’s America’s Most Responsible Companies 2022 list, ranking first in its industry with an increased ranking of 31st overall out of the 499 companies included on list. In 2022, BXP was again named an ENERGY STAR Partner of the Year – Sustained Excellence Award Winner and a Best in Building Health winner by the Center for Active Design. BXP was recently recognized as an inaugural Platinum level Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy.

About BXP
BXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT), with more than 50 years of experience developing, owning, managing, and acquiring exceptional properties in dynamic gateway markets. As of June 30, 2022, including properties owned by unconsolidated joint ventures, BXP’s portfolio totaled 53.7 million square feet and 193 properties, including 12 properties under construction/redevelopment.

Spotlight

In this week's video, John Chang explores how the labor market is shaping the CRE outlook!

Marcus & Millichap's research services division takes great pride in providing industry-leading research, and hope you find value in the insights we share as you shape your commercial real estate investment strategy. As always, please contact our team if we can be of service in providing you with market information, access to inventory, transaction execution and financing.

Spotlight

In this week's video, John Chang explores how the labor market is shaping the CRE outlook!

Marcus & Millichap's research services division takes great pride in providing industry-leading research, and hope you find value in the insights we share as you shape your commercial real estate investment strategy. As always, please contact our team if we can be of service in providing you with market information, access to inventory, transaction execution and financing.

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